Hong Kong – Appointment of CEO of Treasury Markets Association

Appointment of CEO of Treasury Markets Association


The following is issued on behalf of the Hong Kong Monetary Authority: 


     The Treasury Markets Association (TMA) announced today (October 5) that Mr Chordio Chan has been appointed to succeed Mr Jack Cheung as the Chief Executive Officer of the TMA with effect from October 6, 2022, upon Mr Cheung’s retirement (Note).

     Mr Chan has many years of experience in the treasury markets. He retired from Bank of China (Hong Kong) early this year, after serving the bank for more than 13 years. His last position at the bank was General Manager and Head of Investment Management. Prior to that, Mr Chan worked for about 24 years at Citibank (Hong Kong), taken up various positions at the bank including Head of Capital and Money Market and Head of Risk Treasury.

     Mr Chan has actively participated in public and industry bodies. He had served as an Executive Board Member and the Market Practices Committee Chair of the TMA. Mr Chan also used to be a member of Financial and Treasury Services Committee at the Hong Kong General Chamber of Commerce and a member of Products Advisory Committee of the Securities and Futures Commission (SFC). He is an existing Deputy Chairman of the Leveraged Foreign Exchange Trading Arbitration Panel of the SFC.

     Deputy Chief Executive of the Hong Kong Monetary Authority and the Chair of the Executive Board of the TMA Mr Edmond Lau, said, “I believe Mr Chan’s extensive experience and passion for the industry will benefit the Association. I also look forward to working with Mr Chan to further develop the treasury markets in Hong Kong and promote Hong Kong’s status as an international financial centre.”

     Commenting on Mr Cheung’s retirement, Mr Lau said, “I would like to thank Jack for his dedicated service and contributions to the TMA’s work in the past 11 years. The members of the TMA Executive Board, the TMA’s staff and I wish him a very happy retirement life.”

     The biography of Mr Chan is at Annex.

Note: Mr Cheung, who retires upon the end of his contract on October 5, 2022, will act as the TMA’s Senior Advisor for 1 year.

Canada – Treasury Board of Canada President, Mona Fortier, tables the Supplementary Estimates (C) 2021‑22

Today, the Honourable Mona Fortier, President of the Treasury Board of Canada, tabled the Supplementary Estimates (C), 2021–22, in the House of Commons.

February 19, 2022 – Ottawa, Ontario – Treasury Board of Canada Secretariat

The Government of Canada continues to make important investments in response to COVID-19, while ensuring other priorities, such as climate change, improved services for Indigenous peoples, infrastructure, and housing, are given the attention Canadians expect.

Today, the Honourable Mona Fortier, President of the Treasury Board of Canada, tabled the Supplementary Estimates (C), 2021–22, in the House of Commons.

These Supplementary Estimates propose $13.2 billion in voted budgetary spending across 70 federal organizations. This amount includes spending of $1.0 billion for additional therapeutics to treat COVID-19.

Additional proposed expenditures support a variety of government priorities, including addressing the impacts of climate change and support for housing, education, water treatment, health services and emergency response activities for Indigenous Canadians and their communities. 

The Supplementary Estimates also show, for information purposes, forecast budgetary statutory expenditures of $3.9 billion, which includes funding for the Canada Worker Lockdown Benefit and ventilation improvement projects in schools.

The Estimates family of documents provides Canadians and parliamentarians with insight into how the Government plans to invest taxpayer money. 


“Improvements to quality of life and an effective response to the COVID-19 pandemic are equally important. These Estimates demonstrate that our government is addressing immediate needs while continuing to make long term investments that benefit all Canadians.”

–   The Honourable Mona Fortier, President of the Treasury Board

Quick Facts

The Supplementary Estimates (C), 2021-22, are seeking authority to spend an additional $13.2 billion in voted budgetary expenditures.
For information purposes, the Supplementary Estimates (C) also present forecast budgetary statutory expenditures of $3.9 billion.
With these Supplementary Estimates (C), 2021-22, the proposed budgetary authorities for 2021–22 amount to $415 billion, including $188.8 billion in planned voted expenditures and $226.2 billion in forecast statutory expenditures.    

Associated Links

Supplementary Estimates (C) 2021-22
 Supplementary Estimates (B) 2021-22
Supplementary Estimates (A) 2021-22
Main Estimates 2021-22
Canada’s COVID-19 Economic Response Plan
GC InfoBase

Contacts (media)

Isabella Brisson

Acting Director of Communications and Press Secretary

Office of the President of the Treasury Board


Media Relations

Treasury Board of Canada Secretariat

Telephone: 613-369-9400

Toll-free: 1-855-TBS-9-SCT (1-855-827-9728)

Teletypewriter (TTY): 613-369-9371

Email: media@tbs-sct.gc.ca

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Hong Kong – Treasury Markets Summit 2021 (with photos)

Treasury Markets Summit 2021 (with photos)


The following is issued on behalf of the Hong Kong Monetary Authority:
     The Treasury Markets Summit 2021, jointly organised by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today (September 29) in Hong Kong. 
     In his keynote address, the Chief Executive of the HKMA and the Honorary President of the TMA Council, Mr Eddie Yue, highlighted the mutually beneficial relationship between the Mainland and Hong Kong in the financial world, and shared Hong Kong’s strengths and efforts in promoting Reminbi (RMB) internationalisation. He also elaborated the key areas for further enhancing the development of offshore RMB hub in Hong Kong, including liquidity, product development and financial infrastructure, and encouraged market practitioners to seize the relevant opportunities.
     The Summit’s panels covered two important topics, namely the impact of COVID-19 on the global economic outlook and financial markets, and the implication of central bank digital currency on the financial markets. The panels were moderated respectively by Deputy Chief Executive of the HKMA and Chairman of the TMA Executive Board, Mr Edmond Lau, and Chief Fintech Officer of the Fintech Facilitation Office of the HKMA, Mr Nelson Chow, and joined by distinguished guest speakers from the financial industry and relevant sectors.
     The Summit was attended by over 580 local and overseas participants, including representatives from regulatory authorities, treasury market practitioners, asset managers as well as senior executives and professionals from banks, other financial institutions and corporates.

TIS (Treasury Intelligence Solutions) Announces the Launch of Enterprise Payment Optimization

TIS, the leading cloud platform for managing corporate payments and cash flows today announced the launch of Enterprise Payment Optimization, a smart platform ecosystem that increases capabilities and lowers risk for multinational corporations. Focusing on outbound payments and the data resulting from these transactions, EPO enables organizations to capture and manage real-time cash flows and information. EPO is the orchestration layer to support financial strategies, business transformation, and successful collaboration across an entire organization.

Reimagining the world of enterprise payments

Every day, global enterprises collect millions of inbound payments from customers around the world, while simultaneously generating massive volumes of outbound payments to suppliers, employees, as well as to settle treasury transactions. To complicate matters, these inbound and outbound payments can look very different across an organization, especially for those that operate in numerous countries, markets, and industry verticals. Different currencies may be involved, and enterprises with subsidiaries or localized business units may use a separate set of banks and systems to manage payments across each location. This all adds significant complexity each time a new business is acquired, established or sold.

In the world of payments, a lack of visibility and automation impacts liquidity, profitability, and increases risk exposure – including cybercrime and fraud – across all associated business units, departments, and systems. A systematically controlled payments workflow is managed by TIS for both inbound information and outbound payments. No matter where a corporation operates, TIS provides global payments connectivity by creating and maintaining compatibility with all required formats and banks, allowing organizations to connect with any bank partner or entity in the world. TIS’s EPO platform is a global, multi-channel, and multi-bank connectivity ecosystem for payments while providing robust bank account management, cash management, compliance, and security features.

Increase strategic agility and growth through EPO

The collected data managed and stored on the EPO platform provides the basis for monitoring liquidity, engaging in cash forecasting, as well as supporting the information needs of finance, risk, compliance, and management. The ability to actively use data produced via the payments process is key for better decision-making.

Payments data can be exchanged with the EPO platform from anywhere using a “plug-in” for ERPs, TMS, payroll systems, among other mission-critical platforms. By activating these connectors, the TIS platform extracts and enriches the information. Given an often-fragmented systems landscape, a holistic view of payments via an integrated platform may be the only way to get a consolidated view across all corporate departments, subsidiaries, and geographies.

The EPO platform offers full compatibility with all relevant financial messaging protocols and provides a world-class library of continuously updated payment formats that eliminates reliance on e-banking tools and provides centralized connectivity to virtually any bank.

“The business landscape is evolving rapidly requiring firms to increase standardization, centralization, and transparency as it relates to enterprise payments. The TIS EPO platform goes beyond just delivering the information needed for companies to perform better; it also provides the foundation for a best-of-breed solution set that helps businesses sunset legacy platforms and take advantage of next generation technology,” said Erik Masing, CEO of TIS.

Enterprise Payment Optimization allows organizations to maintain cloud connectivity from their back-end systems (where payments are initiated) to their banks (where payments are executed). Data collaboration can be extended to partners such as service vendors and banks, as well as between enterprises. This creates a real community effect, where payments processing and data are leveraged through a single, standardized, and secure dashboard. EPO powers the ability to drive improvement through robust and versatile connectivity, effective collaboration, secure payments processing, and continuous analysis.